Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $550,000 contingent coupon autocalls on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, May 3 – GS Finance Corp. priced $550,000 of autocallable contingent coupon notes due April 22, 2026 linked to the S&P 500 Value index, the Nasdaq-100 Technology Sector index and the Russell 2000 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at a rate of 4.5% per year if each index closes at or above 70% of its initial level on the observation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any index finishes below 60% of its initial, in which case investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500 Value index, Russell 2000 Value and Nasdaq-100 Technology Sector index
|
| Amount: | $550,000
|
| Maturity: | April 22, 2026
|
| Coupon: | 4.5% per year, payable each quarter that each index closes at or above 70% of its initial level on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger level, in which case full exposure to decline of lesser performing index
|
| Call: | Automatically at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date after one year
|
| Initial index levels: | 2,415.656 for S&P, 8,377.703 for Nasdaq and 1,430.94 for Russell
|
| Coupon barrier levels: | 70% of initial levels
|
| Trigger levels: | 60% of initial levels
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 40057FZ31
|
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